Dell, Francisco Partner, and Elliott Management representatives all said their respective companies would not be providing interview opportunities regarding the acquisition at this time.
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Dell continues to be trying to fund its $67 million purchase of EMC EMC, +1.35% including by promoting its information technology-solutions department for $3.05 million and promoting $20 million in ties.
In a statement, Francisco Partners CEO Dipanjan Deb said the acquisition would extend the company’s track record of applying its operational expertise in the technology sector, particularly in support of Dell’s Quest Software and SonicWALL products, which have a base of more than 180,000 customers.
As a leading global private equity firm, Francisco Partners specialises in investments in technology and technology-enabled services businesses. The price is more than $2 billion, sources told Reuters. “We are excited to be partnering with Elliott Management and want to thank Silver Lake Partners and Dell for their continued partnership”.
“Elliott has been a long-term investor in the technology space and today’s announcement continues our progress”, said Jesse Cohn, Senior Portfolio Manager at Elliott Management. Organisations across the world rely on Dell Software Group’s combination of top-flight products, services and support to manage applications and data, secure their networks, protect critical information, derive key insights from data, and simplify their overall IT landscape.
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Brian Decker, head of security investing at Francisco Partners, added: “We see tremendous growth opportunity for these businesses”. “This acquisition represents a significant deal by Evergreen Coast Capital, Elliott’s recently established Menlo Park affiliate”. Now, Dell is focusing on the data-storage hardware and data-center software from VMware Inc., which are being brought in from the EMC deal, and getting out of some previous bets.
